Directors - Boustead Holdings Berhad

40. SIGNIFICANT RELATED PARTY TRANSACTIONS (cont’d.)
Sale of fuel to Power Cable Sdn Bhd,
Group Company
2006 2005 2006 2005
RM’000 RM’000 RM’000 RM’000
a subsidiary of LTAT 92 –– –– ––
Development of Hospital Angkatan Tentera
for Perbadanan Perwira Harta Malaysia,
a subsidiary of LTAT
Professional fees paid to Azzat & Izzat,
a legal firm in which our Director,
78,397 –– –– ––
Datuk Azzat Kamaludin is a member
Professional fees paid to Affin Investment Bank,
544 1,495 157 13
a subsidiary of LTAT
Professional fees paid to Affin Bank,
328 298 –– 33
a subsidiary of LTAT –– 30 –– ––
The Directors are of the opinion that the above transactions are in the normal course of business and at
terms mutually agreed between the parties.
Pursuant to a supplementary agreement between a Subsidiary and two of its directors for the sub-lease
of 12,140.6 hectares of leasehold plantation land for a total consideration of RM39 million, the Subsidiary
sub-leased 7,256 (2005: 7,256) hectares of the leasehold plantation land as at 31 December 2006.
Balances at year end with these directors are as follows:
Group
2006 2005
RM’000 RM’000
Deposit paid 3,200 3,200
Retention sum and balance due (2,169) (2,169)
During the year, the Company has a controlling related party relationship with its direct and indirect
Subsidiaries and the Associates as disclosed in the financial statements. The Company also has a related
party relationship with its holding corporation, Lembaga Tabung Angkatan Tentera (LTAT) and the
subsidiaries and direct/indirect associated companies of LTAT.
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